Crude oil stocks down after Hurricane Laura

The last week of August saw a pair of tropical storms hit the Gulf Coast states in what has already been an extremely active North Atlantic hurricane season. Tropical Storm Marco arrived first in eastern Louisiana near New Orleans, prompting evacuations and a closure [...]

Crude oil continues to consolidate & move higher

As U.S. supplies of crude oil fell for the third straight week on continued weak imports and near-record export shipments out of the Gulf, crude oil is seeing its highest prices since the March sell-off and its historic price inversion into negative territory. Some 2.2 [...]

Natural gas build slows as temperature rise

Tropical Storm Isaias (the ninth named storm, a record this early into the North Atlantic hurricane season) combined with an oppressive heatwave across much of the eastern U.S. to slow EIA natural gas stock build to a nominal 26 billion cubic feet (bcf) build [...]

Summer heat puts a crimp in the natural gas supply build

Last week’s surprisingly strong 120 bcf per day weekly EIA build number gave way to a more modest 65 bcf, about half the prior week’s level. Hotter summer temperatures are settling in across the country for July with summer in full swing. Although stocks [...]

Crude oil suffers setback

As states slowly begin the process of reopening, fears of a secondary outbreak of COVID-19 coupled with rising domestic crude oil inventories halted an energy price advance and sent prices lower. Brent crude prices fell this week by 5 percent, and WTI (West Texas [...]

Ethanol use continues upward climb

For the week ending May 22, ethanol production continued its upward trend to 724,000 barrels per day (bpd), a four-week high but down roughly 32 percent from this time last year. Weekly production rose each week in May. Ethanol use by blenders and refiners averaged [...]

Dollar’s rise during stay-at-home orders

Given its spread across borders, the COVID-19 global pandemic could be described as an equalizing force, at least from an economic perspective. Yet, considering its influence on foreign exchange rates, the pandemic’s economic impact has not been shared equally. The U.S. dollar index, a [...]

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